Mariner Investment Group LLC Acquires Shares of 10,000 Public Service Enterprise Group Incorporated $PEG

Mariner Investment Group LLC acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,000 shares of the utilities provider's stock, valued at approximately $842,000.

A number of other large investors have also recently made changes to their positions in the business. Signaturefd LLC lifted its stake in shares of Public Service Enterprise Group by 4.0% in the second quarter. Signaturefd LLC now owns 7,767 shares of the utilities provider's stock valued at $654,000 after buying an additional 300 shares in the last quarter. First American Bank lifted its stake in shares of Public Service Enterprise Group by 4.6% in the second quarter. First American Bank now owns 45,882 shares of the utilities provider's stock valued at $3,862,000 after buying an additional 2,036 shares in the last quarter. PFS Partners LLC lifted its stake in shares of Public Service Enterprise Group by 23.6% in the second quarter. PFS Partners LLC now owns 748 shares of the utilities provider's stock valued at $63,000 after buying an additional 143 shares in the last quarter. ST Germain D J Co. Inc. lifted its stake in shares of Public Service Enterprise Group by 29.6% in the second quarter. ST Germain D J Co. Inc. now owns 5,995 shares of the utilities provider's stock valued at $505,000 after buying an additional 1,369 shares in the last quarter. Finally, FORM Wealth Advisors LLC lifted its stake in shares of Public Service Enterprise Group by 4.8% in the second quarter. FORM Wealth Advisors LLC now owns 3,590 shares of the utilities provider's stock valued at $302,000 after buying an additional 163 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $82.30 on Friday. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $95.22. The company has a 50-day simple moving average of $84.30 and a 200 day simple moving average of $82.18. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. The company has a market capitalization of $41.07 billion, a PE ratio of 20.78, a price-to-earnings-growth ratio of 2.81 and a beta of 0.50.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.07. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the company posted $0.63 earnings per share. The firm's quarterly revenue was up 15.8% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Tuesday, September 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is 63.64%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. UBS Group raised their price objective on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a research note on Friday, July 25th. BMO Capital Markets increased their target price on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the company a "market perform" rating in a report on Wednesday, August 6th. Barclays lowered their target price on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. Finally, Morgan Stanley lowered their target price on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an "overweight" rating for the company in a report on Thursday. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Public Service Enterprise Group presently has an average rating of "Moderate Buy" and an average price target of $91.85.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total transaction of $115,287.44. Following the completion of the sale, the chief executive officer owned 218,328 shares in the company, valued at approximately $18,147,423.36. This trade represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.19% of the company's stock.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.

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